Oyo investors get generous land discounts

Oyo State Government has offered generous land discounts to investors who wish to set up their businesses in the state.

It is willing to give land to investors at 10 per cent of the original cost.

Already, Total PLC and Kamar Milk Limited have received 17 and 25 hectares of land. Total PLC hopes to use the land for its International Trailer Drivers’ Training Institute and Kamar Limited, a food processing company, plans to build a factory on its portion. Both parcels of land are located on the Lagos-Ibadan Expressway.

Commissioner for Lands, Housing and Survey Bimbo Kolade spoke yesterday while briefing reporters on the activities of the ministry.

Kolade said the discount was part of the initiatives by the Governor Abiola Ajimobi administration to enhance socio-economic development.

He said the initiative would make land accessible and affordable, put land into maximum use and encourage industrial growth, among others.

People investing in agriculture would get 90 per cent discount; those in manufacturing 70 per cent; commercial, 50 per cent and faith-based investments, 85 per cent.

The commissioner said the procedures involved in accessing the land are simple.

He said the ministry has begun the automation of processing land documents, which would ensure speedy completion of all title documents.

Kolade said the processing of Certificate of Occupancy now takes 60-days; sub-lease, seven days; assignment, 14 days; mortgage, seven days and registration of deeds, two days.

He said the state government has partnered housing developers under the Public-Private Partnership (PPP) to provide 1,400 housing units on the Lagos-Ibadan Expressway, adding that additional 250 housing units would be ready by the end of June.

Kolade said the government increased the housing loan of civil servants from N1 million to N2 million last December to enable them subscribe to the housing scheme, adding that 152 civil servants have benefited from it.